Getting in on The Act: How Will Central Bank Digital Currencies Change the Way We Make International Payments?

Posted on the 24th May 2024 by Hamish Anderson in Founders' blog, Business, Finance

For a few years now the central banks have observed the rise of cryptocurrencies and other digital assets like NFTs (non-fungible tokens) and stablecoins. Much has been written about digital assets and Central Bank Digital Currencies (CBDCs) are at the forefront of a revolution which is poised to reshape foreign exchange markets and alter the financial operations of UK-based SMEs and international payments users.

Navigating the Waves: FX Risk Management for Small Businesses

Posted on the 19th April 2024 by Hamish Anderson in Founders' blog, SME blog, Business, Finance, Founder Insights

In an era where macroeconomic uncertainties seem to be the only constant, businesses venturing into the global marketplace face a multitude of challenges, not the least of which is managing foreign exchange (FX) risk. However, fear not! By adopting strategic FX risk management practices, businesses can shield their bottom lines from adverse movements and turn a potential threat into a competitive advantage. In this month’s blog, we explore some strategies to master the art of FX risk management.

Unraveling the Xero Effect: A Game-Changer for Accountants and Clients in the International Payments Realm

Posted on the 13th March 2024 by Hamish Anderson in Founders' blog, SME blog, Business, Finance, Founder Insights

For the UK's fintech sector and its users, the emergence in recent years of accountancy platforms like Xero has been nothing short of revolutionary. As a fintech company focused on navigating the intricacies of making payments across borders, we've witnessed firsthand (and experienced ourselves) the transformative impact Xero has had on our partners in the accountancy sector and their clients. In this blog we will delve into the core of this transformation, exploring how Xero has not just solved problems but has also redefined the financial landscape.

Revolutionising the World of Numbers: How Fintech and Digital Tools have Transformed the Accountancy Profession

Posted on the 15th December 2023 by Hamish Anderson in Founders' blog, SME blog, Business, Finance, Founder Insights

The days of crunching numbers with a calculator and manually balancing books are fading into the past. Today, fintech and a plethora of digital tools have emerged as the driving force behind the transformation of the accountancy sector. In this blog post, we'll dive into the exciting ways in which fintech businesses like ours, and digital tools, have reshaped the world of accountancy.

Bank of England's Interest Rate Decision and Its Currency Market Impact

Posted on the 2nd November 2023 by Hamish Anderson in Founders' blog, General news, News, Business, Finance, Founder Insights

In today's global economy, the decisions made by central banks can have an impact on businesses worldwide. One such decision was made today by the Bank of England when it chose to hold interest rates steady at 5.25%. In this blog post, we will contemplate the Bank of England's decision, its influence on currency markets, and why businesses should pay close attention.

Navigating the Currency Landscape: What Scale-Up Businesses Need to Know

Posted on the 26th October 2023 by Hamish Anderson in Founders' blog, SME blog, Business, Finance, Founder Insights

Navigating the intricate global currency landscape is key for fostering growth and ensuring the success of your business. In this post, we will dive deeper into the essentials that scale-up businesses must grasp when it comes to currency management.

The Vital Connection: Paying Suppliers and Global Commerce

Posted on the 12th October 2023 by Hamish Anderson in Founders' blog, SME blog, Business, Finance, Founder Insights

UK businesses today are, by default, global. Regardless of sector, they operate in a fully interconnected world, compete with international companies, and must reach across borders to find customers, partners, and suppliers.  

In order for all of this to function though, money must always be able to move across borders smoothly, reliably and at low cost.

Fintech Fights Fraud

Posted on the 21st September 2023 by Hamish Anderson in SME blog, Business, Founders' blog, Founder Insights

In the ever-evolving world of international payments, staying ahead of the curve means embracing innovation. However, as quickly as exciting new financial instruments and technologies emerge, so too do new challenges. One of the foremost concerns today is the heightened risk of fraud accompanying these cutting-edge tools. In this blog post, we'll delve into the world of these novel instruments, the real concerns they pose, and how fintech companies like Money Mover are tackling fraud head-on.

The Future of Cross-Border Payments: Bank of England Predicts a Monumental Surge

Posted on the 29th August 2023 by Hamish Anderson in SME blog, Business, Founders' blog, General news, Founder Insights

In the rapidly evolving landscape of international finance, the dynamics of cross-border payments play a pivotal role. As technology continues to redefine our world, the financial sector is no exception. The Bank of England's recent prediction of a significant increase in the value of cross-border payments from $150 trillion in 2017 to over $250 trillion in 2027 is not just a statistic; it's a testament to the power of innovation and global connectivity.

Key Predictions for the Future of Fintech

Posted on the 10th August 2023 by Hamish Anderson in SME blog, Founders' blog, Founder Insights

If the last 10 years have seen remarkable transformations in the way that we all transact, invest, and manage our finances, what will the next ten bring?

“Everyone’s always asking me when Apple will come out with a cell phone. My answer is, ‘Probably never.’” Wrote David Pogue, the then technology correspondent, in the New York Times in 2006, beautifully demonstrating the folly of making public your predictions.

Reflecting on a Decade of Fintech Transformation

Posted on the 18th July 2023 by Hamish Anderson in Founders' blog, Business, Finance, Founder Insights

Last week I wrote about Money Mover’s journey over the last decade. At the time of founding the business, I was working at HSBC and it’s fair to say that the financial sector looked vastly different ten years ago. 

Looking back, I am amazed by the rapid evolution and revolutionary changes we have witnessed in the fintech landscape in recent years.

From Startup Struggles to Success: A Fintech Founder's Guide to Surviving 10 Years in the Industry

Posted on the 27th June 2023 by Hamish Anderson in Business, Founders' blog, Founder Insights

When Money Mover was born 10 years ago, the fintech industry was a vastly different place. Andrew, Simon and I dreamed of creating a business that would leverage the latest technology to improve the way that businesses made international payments. While we may not have achieved mythical unicorn status, our journey through the ever-changing fintech landscape has been a testament to resilience, determination, and a steadfast vision. As we celebrate our tenth year, we reflect on the invaluable lessons we've learned to survive and thrive in the tumultuous world of fintech.

When Banks Go Bad

Posted on the 17th March 2023 by Hamish Anderson in Business, Founders' blog, Founder Insights

A week ago today, the first stories of big trouble at Silicon Valley Bank (SVB) were hitting the newsdesks. As befits the zeitgeist, rumours spread by social media of balance sheet inadequacies at America's 17th largest bank led to a rush to withdraw deposits and falling share prices. Would the issues affecting a specific institution lead to market contagion and put other banks at risk? Bankers and entrepreneurs went into the weekend with trepidation and concern.

Exploring the Impact of AI on International Payments

Posted on the 17th February 2023 by Hamish Anderson in Business, Founders' blog, Founder Insights

Interest in artificial intelligence (AI) has stepped up a notch in the last few months as ChatGPT has burst onto the scene. The natural language processing tool created by OpenAI has done what flying cars and hoverboards haven’t (yet). It’s here, it’s usable, and it’s poised to replace a large portion of the workforce. So I decided to take a look at how AI has already become an integral part of the global financial system and what the future holds. As the world becomes increasingly connected, the impact of AI on making international payments, managing fraud, and detecting money laundering will be significant. 

Tales from the Support Desk

Posted on the 13th December 2022 in Team blog

We may be in the run-up to Christmas, but the Money Mover Support Desk is as busy as ever. 

Back in June 2020, we took a look at our Customer Support Top 10 - the most popular queries that we were receiving from our customers. Now, 2 years on, out of lockdown and with a more extensive set of functions and features, we thought it was about time to take another look and find out what our customers have been asking.

Money Mover launches multi-currency wallets

Posted on the 28th September 2021 by Alex Garbutt in News, Business, Finance, Money Mover News, General news

Running foreign currency bank accounts is often expensive, complicated and time-consuming, but there is an easier way. Money Mover’s multi-currency wallets give you and your business access to virtual accounts in 25+ currencies, all fully integrated within Money Mover’s cloud-based platform. Receive funds with your own IBAN, BIC/SWIFT, account number and sort code, hold funds in currency wallets, convert at bank-beating exchange rates and make payments to over 200 countries around the world. 

Filling in the gaps

Posted on the 21st May 2021 by Hamish Anderson in Founders' blog, SME blog, Business, Finance

In his latest blog,  Hamish takes a look at the recent explosion in digital banking services, which is a good thing, and how the majority ignore the needs of international businesses, which is a bad thing.

Fortunately, there is a solution, and it's not even necessary to abandon your funky anodised debit card!

Four months of CBILS – what we’ve learned so far

Posted on the 30th July 2020 by Faye McDonough in SME blog, Business, Finance

It seems a lifetime ago, but it is actually only a few months since the Coronavirus Business Interruption Loan Scheme (CBILS) was announced by the Chancellor as part of a series of government measures to support the UK’s small and medium-sized businesses during the Covid-19 pandemic.

In this month's guest blog, Faye McDonough, Principal at BOOST&Co, recounts her story of the past four months, from the viewpoint of an entrepreneurial business and an independent lender.

Notes on a virus

Posted on the 30th June 2020 by Hamish Anderson in Founders' blog, Business, Finance

The impact of Covid-19 on Money Mover users

I thought it would be interesting to take a look at the changes in activity that we’ve observed amongst our SME (small and medium-sized enterprise) users over the last few months pre- and post-lockdown. While different countries acted at different times, lockdown in the UK started on 23 March 2020.

As Money Mover is still very much in a growth phase, we expect to add users, increase our volume and number of payments every month. Therefore our reference points are the prior month and the same month in previous years.

Now That’s What I Call Queries! Our Customer Support Top 10

Posted on the 25th June 2020 by Carol Allwood in Team blog

The country may have been in lockdown for the last 3 months, but the Money Mover Support Team has been as busy as ever working from home, helping our customers with a variety of questions and requests.

We thought we’d take a look at the most popular queries that have arisen lately and create our own top Money Mover Greatest Hits!

Money Mover drags payment tracking into the 21st Century

Posted on the 7th May 2020 by Hamish Anderson in Founders' blog, Finance, Money Mover News, News

I remember how exciting it was when I first encountered package tracking from one of the major parcel delivery firms. Knowing the exact location of my order on its journey to me felt like a big deal. Not only was it interesting to follow its progress but, knowing that it was on its way and when it would arrive somehow made you feel that you could get on with your life in the meantime.

In comparison, cross-border payment tracking has left a lot to be desired. However, the Money Mover Team has always been motivated by challenging convention, and our latest innovation is set to bring payment tracking bang up to date.

A message from Money Mover

Posted on the 8th April 2020 by Hamish Anderson in Founders' blog

Life's normal rhythm has been disrupted lately, and it's far from business as usual for us and our users.

I wanted to let you know that the Money Mover Team is safe and well and the service is running normally. We're constantly monitoring the systems, banks and providers that we use and, so far, they are providing us with normal levels of service.

Making Sense of the Metro Bank Remedies Bungle

Posted on the 29th February 2020 by Hamish Anderson in Founders' blog, SME blog, Business, Finance, Founder Insights

Do you recall the controversy surrounding the £120m award to Metro Bank from the RBS Capability & Innovation Fund almost exactly a year ago? Eyebrows were raised at the time for several reasons. Firstly, observers and other participants in the process struggled to grasp how committing to opening additional bank branches in the north of England qualified as "developing more advanced business current account offerings", however worthy the intention. Secondly, throwing £120m at an institution which, days before, had owned up to a £900m hole in its balance sheet, had the most open-minded amongst us scratching our heads.

How long do international bank transfers take?

Posted on the 18th February 2020 by Alex Garbutt in Team blog, SME blog, Finance

International bank transfers are a simple and effective way of paying someone overseas. However, there’s a lot that goes on behind the scenes and several factors that determine how long it takes for an international bank transfer to arrive with its recipient.

Don’t be a victim - how to beat the scammers

Posted on the 27th January 2020 by Alex Garbutt in Team blog, SME blog, Finance

The amount of money stolen by criminals through ever more sophisticated bank transfer scams is on the rise. In the first half of 2019, £208 million was lost to ‘Authorised Push Payment (APP)’ fraud - scams where customers are tricked into authorising payments to an account controlled by a criminal. This highlights the need always to be vigilant when making a payment, whether domestic or international.

Why banks treat alternatives managers as second-class citizens

Posted on the 20th November 2019 by Hamish Anderson in Founders' blog, SME blog, Business, Finance, Founder Insights

Money Mover has now been an AIMA (Alternative Investment Management Association) partner for just over a year. I was chatting to delegates at its recent Spotlight on Raising Assets event in London and it occurred to me that I hadn’t ever explained why this partnership is so important to us and what we think it brings asset managers.

How crisis can provoke competition

Posted on the 11th October 2019 by Hamish Anderson in Founders' blog, SME blog, Finance

Part 1 - A banking crisis

Good things can sometimes result from the direst situations.

Let’s cast our minds back to September 2007. The financial world was in turmoil and there were queues of anxious customers outside the branches of the most respected names in high street banking.

Under the leadership of its controversial chief executive Fred 'the Shred' Goodwin, The Royal Bank of Scotland (RBS) had been acquiring competitors aggressively and was briefly the biggest bank in the world. It was the darling of the UK stock market and feted by government and industry alike as a poster child of achievement in the sector.

However, the 2008 financial crisis signalled a dramatic reversal in its fortunes.                         

If you're not paying for it, you're the product

Posted on the 11th October 2018 by Hamish Anderson in Business, Founders' blog, Founder Insights

There is a growing number of international payments services out there, and new ones spring up all the time.  It’s always been important to us that people understand why Money Mover couldn’t be more different from old school foreign exchange businesses with their boiler room sales people and low-tech service.

For us, transparency is all, and we’re committed to being honest about how we charge for our services, rather than subsidising costs with revenues generated from advertising, referral fees and cross-selling. Above all, we are vehemently opposed to monetising our customers’ financial records and transaction history.

Looking Back

Posted on the 7th June 2018 by Amanda Nunn in Team blog, SME blog, Finance

The 9th June marks four years since Money Mover made its first customer payment. It’s fair to say that a lot has changed in that time; both in terms of the business and the FinTech landscape.

So here’s our quick snapshot of what’s changed, how we’ve grown and what we’ve learnt along the way.

Open Banking - what is it, and why do I care?

Posted on the 26th April 2018 by Hamish Anderson in Founders' blog, Business, Finance

By now you’ve probably heard about open banking. You may have even received a cryptic letter from your bank, asking for permission to do all sorts of things, and are wondering what all the fuss is about.

What is Open Banking?

As Money Mover users and supporters, you’ll probably agree with me that banking has been dominated by a small number of large players for too long.

Open banking seeks to change this by making it easier for to work with other banks and financial institutions, whether it’s to switch accounts or access new products and services.

The point of all this is to encourage innovation and improve competition in the financial sector.

Daylight Savings? Or is your current provider committing daylight robbery?

Posted on the 27th March 2018 by Giles Hutson, CEO of Insignis Cash Management in SME blog, Business, Finance

Whether saving for a rainy day, a future business purchase or an inevitable tax bill; businesses and individuals can earn better interest on their cash reserves.

Money Mover  invited Giles Hutson, the co-founder and Chief Executive of fellow Cambridge FinTech, Insignis Cash Management to talk about how to generate better returns from excess cash.

The Future of Financial Data

Posted on the 27th February 2018 by Hamish Anderson in Founders' blog, Founder Insights

Photo L-R: Neil Garner (Thyngs), Ray Anderson (Bango), Emily Mackay (TAB), Hamish Anderson (Money Mover), Jeremy Sosabowski (AlgoDynamix)

On Thursday 22nd February, I was invited by law firm Mills & Reeve and international technology community Cambridge Wireless to participate in a panel discussion. The panel, which was formed of CEOs from Cambridge-based financial technology (Fintech) firms was to debate the Future of Financial Data; specifically how recent regulatory changes would impact the way financial firms hold and use data.

Deeds Not Words

Posted on the 26th February 2018 by Amanda Nunn in Team blog, SME blog, Business, Finance

The 6th February 2018 marked 100 years since the Representation of People Act - a watershed moment in history, which allowed women in the UK to vote for the first time.

Amanda Nunn, Money Mover's Partnerships Manager, asks how much has changed in the way of gender equality since then, and whether innovative businesses will be instrumental in leading the way for gender equality in the work place.

David and Goliath - an underdog story

Posted on the 31st January 2018 by Amanda Nunn in Team blog, SME blog, Business

For some 3,000 years, the story of David and Goliath has filled our cultural consciousness. Whatever your literature or film genre of choice, it's likely that somewhere amongst the books you've read or films you've watched, you've come across an underdog story.

Money Mover Country Report - Australia

Posted on the 5th December 2017 by Dorianne Sager in Country Reports

If countries were people, then Australia would be the boy all the girls wanted to date in high school: the sun-bleached surfer dude of Queensland, the strong and silent cowboy of the Outback, the sensitive sophisticate of Sydney and Melbourne, and the rebel with a convict past.

GBP since the rates rise - why raising interest rates doesn't always boost a currency

Posted on the 26th November 2017 by Hamish Anderson in Founders' blog, Finance

At midday on the 2nd of November the Bank of England raised its base lending rate for the first time in more than 10 years. The UK has been languishing in an unprecedented cycle of consecutive interest rate reductions, which ultimately had to reverse. Even so, the vote by the Monetary Policy Committee - the body which decides on how the UK’s interest rates should move - was divided, with 7 votes recommending the rise and two urging that things should remain the same. So what’s happened to exchange rates since the rise, and how did the comments of the Governor of the Bank of England -Mark Carney - influence the currency markets?

Big in Japan - Money Mover attends Tokyo's Fintech Summit

Posted on the 31st October 2017 by Hamish Anderson in Founders' blog, Money Mover News, Founder Insights

Establishing relationships in new regions is challenging, and best achieved with help and guidance from local experts. Hamish Anderson, Money Mover's CEO, was therefore delighted to be asked to participate in a recent Trade Mission to Japan which was being run alongside Fin/Sum - Tokyo’s principal financial technology summit.

Why cryptocurrencies don’t add up for Money Mover and its customers

Posted on the 3rd October 2017 by Hamish Anderson in Founders' blog, Business, Finance, Founder Insights

I’ve just returned from a UK FinTech Trade Mission to Japan which coincided with the Tokyo FinTech Summit (Fin/Sum Tokyo).

A topic which came up frequently in formal presentations, panel sessions and discussions with delegates, was cryptocurrencies. No doubt this was because of the news that Japanese banks are setting up their own digital currency - J-Coin. Indeed, one Japanese FSA employee I chatted with was just about to head off to California on a mission to absorb all things cryptocurrency.

I had the chance to consider my position and thoughts on cryptocurrencies, particularly with regards to our business at Money Mover, and I thought I’d share these with you.

Money Mover Country Report - New Zealand

Posted on the 11th September 2017 by Dorianne Sager in Country Reports

New Zealand is a nation of firsts – the first country in the world to see the sun every morning. The first country to give women the right to vote. The first to create an entire tourist industry out of a bungee cord and a bridge.

One price on the shelf and another at the checkout…

Posted on the 29th August 2017 by Alex Garbutt in Team blog, SME blog, Business, Finance

The Financial Conduct Authority (FCA) is cracking down on Payments and e-Money Institutions that are using currency conversion tools in a “potentially misleading” way.

What makes Money Mover different?

Posted on the 21st August 2017 in SME blog, Business, Founders' blog, Founder Insights

There are a lot of international payments services out there and it’s important to us that people understand why Money Mover couldn’t be more different from old school foreign exchange businesses with their boiler room sales people and low-tech service.

The Dangers for Sterling of Rolling the Dice

Posted on the 9th June 2017 by Hamish Anderson in SME blog, Business, Founders' blog, Founder Insights

As the exit polls predicted that the UK was on course for a hung Parliament, the pound dropped almost 2% against the US Dollar and the Euro in a matter of seconds.

Money Mover Country Report - Canada

Posted on the 27th April 2017 by Dorianne Sager in Country Reports

Canada celebrates its 150th birthday this year and the entire nation is gearing up for a party. Lonely Planet has declared Canada as the number one destination in the world for 2017 and it is little wonder why. With 18 UNESCO world heritage sites, Canada is quite simply, breathtaking. From the Rocky Mountains in BC to the freshwater fjords in Newfoundland, the second largest country in the world is 9.984 million square kilometers of Instagram posts.

Leading the world in financial innovation

Posted on the 11th April 2017 by Dorianne Sager in Business, Finance, Money Mover News

The UK is the world’s leading FinTech hub, generating more than £6.6 billion revenue and employing over 61,000 people. To support this growing sector and cement Britain’s position as the global FinTech capital, the UK government is hosting a new, annual FinTech conference on April 12th to showcase the country’s FinTech talent.

Money Mover Country Report - United Arab Emirates

Posted on the 23rd March 2017 by Dorianne Sager in Country Reports

The UAE is the second largest economy in the Middle East after Saudi Arabia and had a GDP of $570 billion in 2014. The UAE’s Free Trade Zones offer 100% foreign ownership and zero taxes and are highly attractive to foreign investors and international businesses, while its economic and political stability and modern infrastructure attracts both low and high skilled workers.

Money Mover Country Report - China

Posted on the 10th March 2017 by Dorianne Sager in Country Reports

5,000 years of continuous civilization gives a country certain bragging rights. Ancient Chinese inventions, philosophies and discoveries have shaped the world as we know it: the abacus, the compass, gun powder, silk, paper, porcelain, alcohol, paper money, Confucius… the influence of Chinese culture on modern society is incalculable.

Money Mover Country Report - Japan

Posted on the 23rd February 2017 by Dorianne Sager in Country Reports

From the frenetic pace and bright lights of Shinjuku in downtown Tokyo, to the serene, contemplative nature of one of its many Zen gardens, Japan is a study in contrasts. It’s a country that has over 1500 earthquakes a year, yet built the world’s tallest broadcasting tower and quake-proofed it using a design inspired by a 1400 year-old pagoda. It’s a country that can set off an international gaming craze where people of all ages race through cities and countrysides looking for creatures based on Japanese mythology. In Japan, ancient traditions and modern technology can blend as harmoniously as matcha and water in a tea ceremony.

Money Mover Country Report - Germany

Posted on the 21st February 2017 by Dorianne Sager in Country Reports

Dating from the Holy Roman Empire in the year 962, few countries have a history as complex - or conflicted - as Germany. Determined to overcome the legacy of WWII and drop the shackles of its past, Germany shifted its famous efficiency into overdrive and emerged from the rubble of the Berlin wall to become an economic powerhouse and a guiding force for political security in Europe. With its rescue of Greece from financial crisis and its commitment to replacing nuclear and fossil fuels with clean energy, to its large-scale acceptance of refugees fleeing war-torn Syria, Germany’s new legacy as a global leader proves the old German adage: “to change and to improve are two different things.”

The effect of Brexit on international payments and transfers - managing currency risk

Posted on the 16th February 2017 in Business, Finance

As the shock of last June’s vote to leave the European Union slowly wears off, the reality of a post-Brexit Britain is starting to emerge. The pound dropped to its lowest value in 31 years directly after the referendum and is currently hovering around £1.22 to the dollar. Once Article 50 is triggered sometime in March, official divorce proceedings will begin. Like any divorce, ending the relationship between Britain and the EU is guaranteed to be an emotional and drawn out negotiation. During this time, the one currency everyone will be trading in is uncertainty.

Money Mover Country Report - Italy

Posted on the 10th January 2017 by Emily Keates in Country Reports

Since the official unification of Italy in 1861, the country has experienced a tumultuous period that saw a mass exodus of her people and the disastrous consequences of two World Wars. Yet over the past 60 years the country has reclaimed its status as a major social and cultural player in world affairs.

Money Mover Country Report - France

Posted on the 3rd January 2017 by Emily Keates in Country Reports

In ancient times France was part of the Celtic territory of Gaul, becoming an independent country in the 9th Century.  Since the 1600s, the country has played a major role in European and world events.

From black and white to technicolour: A journey from the world of corporate banking to a FinTech start-up

Posted on the 14th December 2016 by Carol Allwood in Team blog

It’s fair to say that Money Mover has an entirely different culture and ways of doing things. It took me a little while to get the hang of things initially but I’ve really enjoyed adapting my own style to that of a FinTech start-up. So here is my summary of the key differences.

Cambridge round table insights with Claire Ruskin

Posted on the 7th November 2016 by Emily Keates in SME blog

Claire Ruskin, CEO of Cambridge Network talks about startups in Cambridge.

Money Mover Country Report - Switzerland

Posted on the 6th November 2016 by Emily Keates in Country Reports

Covered by glaciers during the Ice Age, Switzerland was colonised relatively recently compared to its neighbours. The first group to identifiably inhabit what is now Switzerland being the Celts in around 100 BC. Since then, until its independence in 1815, it has been fought over by the Romans, ‘Barbarians’ and French.

Cambridge round table insights with Greg Law (Talent acquisition)

Posted on the 4th November 2016 by Emily Keates in SME blog

Greg Law, CEO and co-founder of Undo, talks about talent acquisition in Cambridge. 

Money Mover Country Report - Sweden

Posted on the 3rd November 2016 by Emily Keates in Country Reports

From the all-conquering Vikings, to becoming one of the most democratic and liberal countries in the world, the history of Sweden is long and varied. In more recent history Sweden has developed into a strong, advanced country in both economy and civil liberties - ranking exceptionally for metrics of national performance. For example, Sweden has the lowest income inequality in the world as well as the smallest gender employment-rate gap, with only 4% more men in employment than women.

Sweden joined the European Union on 1 January 1995 however has never joined the Euro currency, which it voted against in a referendum in 2003.

Cambridge round table insights with Greg Law (FinTech in Cambridge)

Posted on the 2nd November 2016 by Emily Keates in SME blog

Greg Law, CEO and co-founder of Undo, talks about FinTech in Cambridge.

Money Mover Country Reports - Romania

Posted on the 26th October 2016 by Emily Keates in Country Reports

Up until the fall of the Soviet Union in 1989, Romania spent more than 40 years behind the closed doors of the “Iron Curtain”. However since then it has thrived. With a large natural resource base and the Black Sea in the east driving a lot of tourism to the country, Romania has grown rapidly in the last few decades.

Following the Cold war, Romania’s ties with Western Europe have significantly strengthened, joining NATO in 2004 and subsequently the EU in 2007.

Cambridge round table insights with Goncalo de Vasconcelos, CEO SyndicateRoom

Posted on the 24th October 2016 by Emily Keates in SME blog

Gonçalo de Vasconcelos, Co- Founder and CEO of SyndicateRoom, talks about the future of Fintech in Cambridge.

Money Mover Country Reports - Hungary

Posted on the 22nd October 2016 by Emily Keates in Country Reports

Following the end of World War II, Hungary became a satellite state of the Soviet Union under communist rule. During this period there were a number of nationwide revolts and revolutions against the soviet controlled government, but it wasn’t until 1989 with the collapse of communism across Eastern Europe that Soviet troops started to leave Hungary. The last troops left the country in the summer of 1991.

In the wake of the departure of Soviet troops and the collapse of the USSR, Hungary developed close political and economic ties with Western Europe, joining NATO in 1999 and then EU in 2004.

Cambridge round table insights with Adrian Watson

Posted on the 21st October 2016 by Emily Keates in SME blog

Adrian Watson, Portfolio Finance Director, talks about SME's and funding.

Amanda Nunn: Twelve months at Money Mover

Posted on the 18th October 2016 by Amanda Nunn in Team blog

I’ve now been in the role for 12 months and as I reflect on the last year I can say that it has been the biggest roller coaster of my life; during which time I’ve learnt a great deal about myself (and others) and about the realities of working in a start-up.

The world of FinTech; a layman’s review

Posted on the 10th October 2016 in SME blog

Financial Technology aka FinTech has remained a blurry subject, parked firmly outside of my understanding! So when Susan asked if I wanted to guest blog for them…I decided it would be a good opportunity to do some extra research and see about shifting that parked car.

Legacy Systems and Legacy Thinking: Fintech and the reinvention of financial services

Posted on the 23rd September 2016 by Amanda Nunn in SME blog

Until relatively recently, it is quite possible that many of you hadn’t ever heard the term Fintech. But, it’s broad sector with a long history. It was British banks that invented many of the current account features that we now just take for granted.

What’s keeping most small business owners up at night

Posted on the 13th September 2016 by Hamish Anderson in SME blog

In the wake of the UK’s impending move out of the European Union, and the uncertainty that has brought about, there are reasons to remain positive.

An Interview with our Intern, Alex Parsonson

Posted on the 8th September 2016 by Emily Keates in Team blog

Meet Alex Parsonson, our Intern for the second year running. Alex was with us for three weeks last year and has joined us for another two weeks this year.

The challenges and opportunities presented by Brexit

Posted on the 7th September 2016 by Hamish Anderson in SME blog

Brexit is not just about fear, uncertainty and challenges, there will be opportunities too. We are living in astonishing political times, with the unprecedented fallout of the UK’s decision to vote to leave the European Union in June’s referendum still playing out around us. A weakened pound, downgraded national credit ratings and sweeping changes within the heart of government: it’s no wonder business leaders everywhere are feeling anxious and uncertain about their future prospects.

From one graduate to another: How to be successful in your first months at work

Posted on the 1st September 2016 by Gabriella Stanley in Team blog

As it is nearly my one-month anniversary working as a Business Development Executive for Money Mover, I thought I would celebrate by writing a blog entry aimed at other graduates about how to be successful in your first few months at your new job.

Team GB Olympic Success – Lessons for Business

Posted on the 25th August 2016 by Michael Daly Associates in SME blog

As a nation we have all watched with pride as our Olympic hero's have stood on the podium over the last two weeks to receive their medals at Rio 2016.

In our guest blog Michael Daly from Michael Day Associates explains why businesses can learn from Team GB Olympic success.

Why are bank charges like icebergs?

Posted on the 23rd August 2016 in SME blog

Foreign exchange and international payments are tricky markets to navigate as a business. Whether paying suppliers, accountants or rent, it’s usually obvious exactly how much you’re paying. The foreign exchange market is very different, and here’s why.

Brexit - the fall out begins

Posted on the 19th August 2016 by Hamish Anderson in Founders' blog

The formal Brexit process hasn’t even started, but we’re already feeling the impact of the referendum result.  Sterling has depreciated by more than 10% against the major currencies and hit its lowest level against the USD for almost 30 years.

What are SWIFT payments?

Posted on the 18th August 2016 in SME blog

More than 25 million SWIFT messages are sent out a day providing transparency and security for international payments. Here's our guide to understanding what SWIFT is and how it can help you.

Guide to managing your cash in uncertain times

Posted on the 9th August 2016 in SME blog

Whether you’re an individual, a company or a charity, it’s in your best interest to manage your cash as efficiently as possible. The problem is, this can be a frustrating and time consuming task. In our period of economic uncertainty, how can anyone be expected to monitor saving rates, which are constantly changing, across multiple banks, on top of your daily business needs.

In this guest blog our friends at Insignis Asset Management give their advice on managing your cash in uncertain times.

A day in the life of an Intern

Posted on the 29th July 2016 in Team blog

Callum, our latest Intern at Money Mover, takes us through his typical day.

Paying and invoicing suppliers overseas - cost efficiently

Posted on the 21st July 2016 in SME blog

One of the biggest challenges faced by many small and medium sized companies (SMEs) which trade internationally is finding the most cost efficient way to pay their overseas suppliers. 

With little control or visibility over when the money will be received and the risk of adverse exchange rate movement in the time it takes from sending the invoice to receiving the payment, cross-border payments can be a real headache and represent a significant impact on cash-flow.

How NOT to become a CFO dinosaur

Posted on the 7th June 2016 by Compleat Software in SME blog

The FSN Modern Finance Forum recently released a Finance Function Survey 2016 suggesting that the role of a CFO is “overhyped and full of contradictions.” The FSN states that the research was conducted amongst the 46,000 members of the FSN Modern Finance Forum on Linkedin and represents one of the largest surveys of its kind.

If it’s not transparent, it’s not fintech!

Posted on the 31st May 2016 by Hamish Anderson in Founders' blog

Whenever I’m asked to talk about Money Mover’s international payments platform, cutting costs is normally the last thing that I mention. Why? Because telling a small business that you’re going to charge them less is easy, but without knowledge and information it’s really hard for the SME to know whether they’re actually getting a better deal or not.

8 ways to stay on top of your small business finances

Posted on the 19th May 2016 by Hamish Anderson in SME blog

Running a small business is tough. Finding new customers, sticking to budgets, delivering quality products or services, maintaining a happy, healthy workforce and keeping clients satisfied.  It’s a stressful, and often thankless, task at the best of times.

A beginner's guide to Foreign Exchange payments

Posted on the 12th May 2016 by Susan Curtis in SME blog

Foreign exchange terms and phrases can be easy to understand if you’ve worked in the financial sector for many years or are experienced in international payments. 

The challenge of proving your address

Posted on the 5th May 2016 by Susan Curtis in SME blog

Money Mover users based in the UK may never have experienced a problem proving their address. We are so used to entering a postcode on a website then selecting our street address, it’s normally quite simple. But what do you do when your post isn’t delivered to your home address? What proof of residence can you provide?

Anti-Money Laundering – Minimising risks with electronic identification

Posted on the 28th April 2016 by Alex Garbutt in SME blog

Money laundering is a significant threat to the global economy

Due to the very nature of money laundering it is hard to quantify the amount of money that is laundered globally. However studies into the topic have suggested that the figure could be as large as $1.6tn each year, which equates to around 2.7% of global GBP.¹

3 reasons why your small business is spending too much on international payments (and what you can do about it?)

Posted on the 20th April 2016 by Susan Curtis in SME blog

The UK SME sector is growing and is increasingly international in its focus.  For UK SMEs, international trade is worth over £700bn.

The Eurozone is the UK’s largest trading partner, but non-EU trade has also grown rapidly in recent years.  The USA is the UK’s second largest trade partner, accounting for 9.8% of international trade, with China hot on its heels.

Top 3 tips to choosing the best lawyer for SMEs

Posted on the 14th April 2016 by Susan Curtis in SME blog

If you’re running a business, you’re most likely going to need a lawyer at some point. Once you’ve grown to a certain size, there comes a point where you need to stop constructing your legals through downloading a template and actually get professional advice.

5 top international payment tips for businesses

Posted on the 4th April 2016 by Alex Garbutt in SME blog

Each year, hundreds of entrepreneurial and growing companies consider international expansion. As part of this process foreign exchange and international payments will become standard business practice.

Innovation and competition in financial technology - Fintech: promoting innovation

Posted on the 29th March 2016 by Hamish Anderson in Founders' blog

As part of a conference on “The Impact of Competition Powers on Financial Services” I took part in a panel discussion. While the conference’s theme was predominantly legal (it was hosted by Norton Rose Fulbright and attended mostly by lawyers) the theme of my panel was  ‘Fintech: promoting innovation’.

5 things to consider when choosing a business bank account

Posted on the 7th January 2016 by Alex Garbutt in SME blog

Whether you’re setting up a new business or looking to switch providers, here are the top five things to consider when shopping around for the best business bank account.

Andy Homer interviews Money Mover CEO Hamish Anderson

Posted on the 2nd November 2015 by Andy Homer in News

Former Towergate Insurance and AXA CEO Andy Homer interviews Money Mover founder Hamish Anderson about the money transfer marketplace

"The founders knew that SMEs were under-served and overcharged by banks across the board. Consumers benefit from special offers and competitive rates. Large corporations can use their size to leverage the best deal. SMEs are caught in the middle."

CMA report response and analysis

Posted on the 23rd October 2015 by Alex Garbutt in SME blog

This week the Competition and Markets Authority (CMA) released its long-awaited retail banking report. So what did they have to say? Surely after 18 months of research they would be announcing something fairly significant? Well… not really. It seemed a bit… soft, for want of a better word.

Forecourts and Foreign Exchange: Why businesses want FX providers that are less like petrol stations and more like discount supermarkets

Posted on the 18th September 2015 by Hamish Anderson in Founders' blog

We all like to get the best possible price when we make a purchase. If we feel that we’re being overcharged or ripped off then, as consumers, we tend to vote with our feet.

Alex joins the Money Mover Team

Posted on the 5th August 2015 by Alex Garbutt in Team blog

Alex Garbutt, our new business analyst, talks about why he decided to move into the world of FinTech and about his first impressions of Money Mover.

How our £1m funding will help us better serve underserved SMEs

Posted on the 22nd July 2015 by Hamish Anderson in Founders' blog

Today we announced that we’ve secured £1m in investment from a group of financiers, entrepreneurs and technologists. The consortium includes former Towergate CEO and stakeholder in Funding Circle, Andy Homer, and Classic FM founder Sir Peter Michael.

Backing from such experienced private and institutional investors is a testament to the potential of Money Mover and signals the start of a new era in the company’s growth. The investment is critical if we’re truly to address the challenges that face small to medium sized businesses (SMEs) in the UK and beyond.

Are you leaving your business exposed?

Posted on the 4th March 2015 by Hamish Anderson in SME blog

Just because you manufacture in the UK and only sell your products in the UK, it doesn't mean that you don't have currency exposure.

Hamish Anderson discusses why this is and what you might do about it.

Money Mover Country Reports - South Africa

Posted on the 4th November 2014 by James Teale in Country Reports

The Republic of South Africa, also known as the “rainbow nation”, is a country with deep historical roots with the establishment of the country’s earliest settlers including the San and the Khioikoi people over several thousand years ago.

Money Mover Country Reports - Spain

Posted on the 15th July 2014 in Country Reports

Spain – the Euro

Back in 1492 the modern united state of Spain was created, ending nearly 800 years of Muslim rule in the south. Spain is now composed of 17 autonomous communities and 2 autonomous cities with varying degrees of autonomy thanks to its constitution. It now has a population of approximately 47 million.

Spain signed up to the Euro in 1999 and in 2002 the Peseta was replaced by the Euro as the only currency of Spain.

We've made our first payment!

Posted on the 9th June 2014 by Money Mover Team in News

Our beta-testing programme is in full flight, and we're excited to report that one of our beta clients has just made his first payment!

Our client sold US Dollars (USD) and bought British Pounds (GBP), and reckoned that he saved around GBP 200 compared to his normal currency transfer service.

Introduction to Money Mover Country Reports

Posted on the 6th June 2014 by Rosemary Fallows in Country Reports, News

We’ve decided to put together a series of country reports which will feed into our risk analysis. This is a bit more in depth than deciding where to go on holiday! We will take a look at each country’s political situation, the type of businesses run there and the risk of corruption, amongst other things.

We’re onboarding our first beta clients…

Posted on the 22nd May 2014 by Money Mover Team in News

Whilst the web application build continues behind the scenes (and we’ll update you shortly on our progress), we’ve just started onboarding a group of beta clients...

New Money Mover website goes live

Posted on the 15th May 2014 by Money Mover Team in News

Money Mover launches new marketing website.

Why Cambridge?

Posted on the 29th April 2014 by Hamish Anderson in Founders' blog

I'm often asked why we set up Money Mover in Cambridge.

“Surely a financial services business should be in London?” people ask, “or in a country with lower taxes, or where the regulations aren’t so tough?”

There’s a basis of fact in all the above, but we considered all these things pretty carefully in the very earliest days of the company, and we tried to make choices which were true to the vision that we had for Money Mover.